Social activist-turned-politician Yogendra Yadav has demanded the resignation of RBI Governor Urjit Patel accusing him of sacrificing autonomy and eroding public confidence in the central bank.

Social activist-turned-politician Yogendra Yadav has demanded the resignation of RBI Governor Urjit Patel accusing him of sacrificing autonomy and eroding public confidence in the central bank. (Source: Express Photo)

Social activist-turned-politician Yogendra Yadav has demanded the resignation of RBI Governor Urjit Patel accusing him of sacrificing autonomy and eroding public confidence in the central bank. Yadav took his grievance to social networking platform Twitter to express his distress over the debate pertaining to the note ban crisis that is proving very difficult for the RBI to manage – the cash crunch has continued for over a month now. In one of his latest tweets, Yadav wrote: “SwarajIndia demands resignation of RBI governor for sacrificing autonomy & eroding public confidence in this sacred institution.” He also hash-tagged it ‘#SaveRBI’.

A few days ago Yadav, in an open letter, critised the Central government and the Reserve Bank of India over the U-turn on the notification it issued that allowed people to deposit over Rs 5,000 in old currency only till December 30 after explaining why they have not done so far. In his letter, he had mentioned that when he went to a bank to deposit an amount that was more than Rs 5,000, he was asked to justify the reason. To that he wrote that he didn’t visit the bank before because he wanted to avoid the long queues and Prime Minister Narendra Modi himself had asked people time and again to not rush because there’s enough time till December 30.

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He had uploaded the handwritten letter on social networking platforms Facebook and Twitter, which in no time went viral. The government initially said that people can deposit the old Rs 500 and Rs 1000 currency notes in banks till December 30 and there was no limit to the amount that could be deposited by an individual.